Poland: Recent Developments In Poland
On 20 March 2015, Poland’s government approved an agreement with the United States, implementing the Foreign Account Tax Compliance Act (FATCA) in Poland.
FATCA is a US anti-avoidance law. It requires financial institutions abroad to provide the US tax authority with information about their US citizen clients. Poland is one of many countries that have agreed to implement FATCA and share tax data with the US to help it enforce the Act.
Poland receives new investment from United Arab Emirates
In a recent trip to Dubai, Poland’s deputy prime minister and minister of economy, Janusz Piechociński, announced significant UAE investment in sectors such as real estate, infrastructure, renewables and food processing.
The UAE is a popular trading partner for Polish businesses, in part due to its favourable tax regime and a beneficial double tax treaty with Poland. Exports to the UAE increased by 50% from 2013 to 2014, and this investment is likely to strengthen Poland’s export market further.
